Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-271-000"
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"en.20110405.13.2-271-000"2
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"(
Public and officially supported export credit agencies are important backers for private business projects in developing countries. In these times of overstretched national budgets they are gaining increasing importance as sources of investment for European businesses, insofar as these are not required to refinance themselves with taxpayers’ money. Because the risk assessment criteria for public export credit agencies are quite different from those when the loan comes from a private bank, competition can be distorted in international trade, as the Chinese example illustrates. That is why a whole host of regulations exist, such as OECD and WTO agreements, which fix the deadlines for repayment and a minimum premium rate. For the purposes of evaluation and in order to prevent abuse and to avoid refinancing from taxpayers’ money, specifications are required for greater transparency through an EU-wide obligation to publish annual reports, etc. It is open to question whether the proposed measures will bring about greater transparency. I have therefore abstained from voting."@en1
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